https://techcrunch.com/2024/02/12/spot-bitcoin-etf-volumes-rising/

The price of bitcoin hit $50,000 today, a month after the U.S. Securities and Exchange Commission approved 11 applications for spot bitcoin ETFs.

The issuers of those ETFs have seen demand skyrocket beyond initial predictions of a few billion. Assets under management at these issuers total around $28.35 billion, making for a market cap of $39.8 billion, according to Blockworks data. Trading volume across 24 hours was $1.38 billion.